Meritage Portfolio Management Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Meritage Portfolio Management bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 128 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in MercadoLibre during the fourth quarter valued at $28,000. Archer Investment Corp bought a new position in shares of MercadoLibre during the fourth quarter valued at $31,000. NBC Securities Inc. purchased a new position in shares of MercadoLibre in the 3rd quarter worth about $35,000. Larson Financial Group LLC bought a new position in MercadoLibre in the 4th quarter worth about $36,000. Finally, Blue Trust Inc. boosted its stake in MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after purchasing an additional 9 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 3.1 %

MercadoLibre stock opened at $1,406.00 on Friday. The stock has a market cap of $71.28 billion, a PE ratio of 71.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a fifty day moving average of $1,523.37 and a 200 day moving average of $1,528.68. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. MercadoLibre’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.25 EPS. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MELI shares. Susquehanna lifted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Wedbush lowered their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup cut their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,790.36.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.